Brent Forrest & Associates LLC

ITEM 5 - FEES AND COMPENSATION
Investment Management Fees and Compensation

Wela charges a fee for providing Investment Management services on your account. These include
advice, consulting, trade entry, investment supervision, and other account maintenance activities. We do
not charge fees for making transactions within your account. Additionally, we pay all the custodial fees,
transaction costs, redemption fees, retirement plan and administrative.

The annual fee for portfolio management services is billed monthly in advance based on the market value
of the assets on the last day of the preceding month as reported by the custodian. Fees are assessed on
all assets under management, including securities, cash and money market balances. Margin debit
balances do not reduce the value of assets under management.

Our investment advisory fees shall not exceed 1% annually. The specific fees are set forth in your
Investment Advisory Agreement. In certain circumstances, our fees and their timing may be negotiated.

At our discretion, we may add (aggregate) asset amounts in accounts from your same household
together to determine the advisory fee for all your accounts; for example, where we also service accounts
of your minor children, individual and joint accounts, IRA accounts, and so forth. This aggregation is
designed for your benefit to potentially be assessed a reduced advisory fee.

ADV Part 2A Brochure | Wela Financial Advisory

You may provide written authorization permitting fees to be paid directly from your account held by the
independent qualified custodian. The custodian holding your cash and securities will debit your account
directly and pay the fee to us. Further, the custodian agrees to deliver directly to you an account
statement at least quarterly indicating all the amounts deducted from your account including our
advisory fees. You are encouraged to review your account statements for accuracy. We will receive a
duplicate copy of the custodian’s statement as well.

In limited circumstances, we may bill you directly for our management fee. In this case, the payment is
due upon receipt of the invoice.

Either Wela or you may terminate the management agreement upon 30 days’ written notice to the other
party. The management fee will be pro-rated to the date of termination, for the month in which the
cancellation notice was given, and any unearned fees will be refunded to you. Upon termination, you are
responsible for monitoring the securities in your account, and we will have no further obligation to act or
advise with respect to those assets.

Additional Fees and Expenses

We may invest a portion of your assets in mutual funds, Exchange Traded Funds, hereafter known as
“ETFs”, or variable annuities. These products charge an investment management fee on client’s assets
invested in these securities. Therefore, you may pay two levels of fees for the management of assets, one
directly to Wela and one indirectly to the managers of the mutual funds, ETFs or variable annuities held in
your portfolio.

Sub-Advisors

We have established agreements with third-party money managers as a sub-advisor agreement. Our
sub-advisory arrangements are billed by Wela, who pays the sub-advisor for their separate fee, which is
disclosed in the fee agreement. The total annual fee charged through these arrangements varies based
on the money manager selected and the services being provided.

Clients should refer to the signed agreement for the specific fee to be charged to the account, and the
percentage that the third-party money manager and Wela will receive. Fees paid to us by third party
money managers are generally ongoing. Third party money managers and platforms who charge the fee
from the account(s) establish and maintain their own separate billing processes, which we have no
control over. These processes may include billing either monthly or quarterly, and either in advance or in
arrears. This will be described in their separate written disclosure documents.

All fees we receive directly from your accounts or from third party money managers and the written
separate disclosures made to you regarding these fees comply with applicable state statutes and rules.
The separate written disclosures you need to be provided with include a copy of the third- party money
manager’s Form ADV Part 2, all relevant brochures and brochure supplements, a fee agreement detailing
the exact fee percentages paid to all parties and a copy of the third-party money manager’s privacy
policy. Neither the third-party money managers we recommend, nor Wela, will directly charge you a

ADV Part 2A Brochure | Wela Financial Advisory

higher investment management fee than you would have been charged by either party through a direct
advisory relationship, but your total annual fee (including the fee we receive) may be higher.

One-Time Financial Plan Fees

Your fee for the designated financial planning services is an hourly rate agreement. Your total cost for
these services will be based on the amount of time we spend developing your financial plan. This
includes time spent meeting with you, analyzing your financial objectives, and evaluating and
documenting your strategies. Our hourly rate is $250. Our usual practice is to estimate the number of
hours and quote, in advance, so that you know the cost of your plan in advance of services being
performed. The fee and the number of hours will be determined based on factors including the
complexity of your financial situation and agreed upon deliverables. We reserve the right to waive these
fees for those clients participating in our asset management program. One half of the total fee will be due
and payable at the time you enter into the financial planning agreement, with the balance due and
payable at the time the financial plan is delivered.

In no case are our financial planning fees based on, or related to, the performance of your funds or
investments.
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ITEM 7 - TYPES OF CLIENTS
We provide investment advice to individuals. A minimum of $300,000 is required to open and maintain
individual account/s. We may waive account minimums at our sole discretion. We also provide
investment advice to businesses for group retirement plan services including but not limited to 401(k)
plans.